By Eyo Nsima
THE Nigerian Electricity Regulatory Commission (NERC) has increased the average cost of prepaid meters by 31.53 per cent.
According to NERC, the cost of a single Phase Meter has been increased to N58, 662.69, from N44, 896.17, representing a 30.66 per cent increase.
The Commission also raised the cost of a Three Phase Meter to N109, 684.36, from N82.855.19, representing 32.38 percent, exclusive of Value Added Tax (VAT).
In a letter – Review of the unit price of end-user meters under the Meter Asset Provider and National Mass Metering Regulations – sighted by The Daily, https://thedaily-ng.com, and addressed to the Managing Directors of all Electricity Distribution Companies and the Managing Directors of all Meter Asset Providers, the Chairman, NERC, Sanusi Garba, stated that the new prices will take effect from November 15, 2021.
He said: “In arriving at the approved unit price, the Commission had, in particular, only considered changes in foreign exchange and inflation since the last review of June 2020.
“This price review is subject to change upon the conclusion of the procurement process under phase 1 of the National Mass Metering Program. This price is effective from 15th November, 2021.”
